Monday, December 6, 2010

Elliott Wave: Nifty Cash 5992 Forecasting

Large trend Unfold: # No change since last update #

Major corrective phase will form in Flat or Triangle patterns. Corrective major Wave 'b Upside is ON. Wave’ b is retraces upside to 99.5% of wave ‘a. Major wave’ a was in complex pattern and wave’ b also in complex patterns. Wave' b is likely in Zigzag pattern internally. To conclude, major wave’ b to complete, the minimum correction of major wave ‘c should be 38.2% of Wave’ a, from the top of wave’ b. Conclusion is that wave' c will be the failure one and will not retrace the entire wave' b.

Medium trend Unfold:

Inside Zigzag pattern, Intermediate Wave' b was Double -Three combination pattern.

Intermediate wave’ c is ON. We have modified the labeling of Intermediate Wave' b and medium term trend, but conclusions of trends are same as previous.

Small Internal Patterns:

Inside Intermediate Wave' c, Nifty moving up in impulsion form. In small waves, market is in his final lag I.e. wave ‘5 upside likely to be failure one or will make a new top. Time frames for small wave’5 to complete will be between 15th Dec 2010 and 30th Jan 2011.

Quick Elliott Wave Views: Short term to Long term

Small Wave ‘5 is ON. Wave ‘5 upside will likely to be failure one Time frames for small wave’5 to complete will be between 15th Dec 2010 and 30th Jan 2011.
Captions: So, investors and traders be caution while trading long side. Trade in less quantity and avoid big positional portfolio. Because after major wave ‘b complete, major wave ‘c will start downside sharply.

Quick Mechanical Outlooks: Nifty Cash 5992

Today, sell off pressure will be come in the Nifty at higher level. Mechanically, if Nifty, break the level 5965, then it will triggers the –Ve signal. Nifty will be positive above 5965 level. Hold with 5965 level.

Resistance: 6040 / 6085 / 6140.

Support: 5965 / 5945 / 5880.

We concluded on dated 01/08/2010(@ 5400 Nifty) that IF Nifty not fall below 4675 within 30th Sept 2010, than it will cross above 6400 mark within 30th Jan 2011.

Till date, Nifty touched @ 6338 mark. So our conclusion was achieved.

New Major Conclusions: Investors and traders should caution while trading long side. Trade in less quantity and avoid big positional portfolio. Because after major wave ‘b complete, major wave ‘c will start downside sharply. Time frames for major wave ’b to be complete will be between 15th Dec 2010 and 30th Jan 2011. Level 4780 will be break within 3 months of time after making a top.

This conclusion is arrived from Elliott Wave Principle…….!!!!!

Declaimer: Author's recommendations are solely made with the purpose to educate the market Participants / Traders / Investors and enable to them to derive maximum benefits by acting them. While due care has been taken in preparing these comment , no responsibility will be assumed by the author for the consequences whatsoever , resulting out of acting on these recommendations.

Friday, October 8, 2010

08th Oct 2010 Daily

Elliott Wave: Nifty Cash 6120 Forecasting

Large Pattern Unfold: # No change since last update #

Major corrective phase will form in Flat or Triangle patterns. Corrective major Wave 'b Upside is ON. Wave’ b is retraces upside to 96.5% of wave ‘a. Major wave’ a was in complex pattern and wave’ b also in complex patterns. Wave' b is likely in Zigzag pattern internally. To conclude, major wave’ b to complete, the minimum correction of major wave ‘c should be 38.2% of Wave’ a, from the top of wave’ b. Conclusion is that wave' c will be the failure one and will not retrace the entire wave' b.

Medium Pattern Unfold: # No change since last update #

Inside Zigzag pattern, Intermediate Wave' b seen Double -Three combination pattern.Intermediate wave’ b is ON. (Last pattern is On Running Flat or a Triangle).

Small Internal Patterns: # No change since last update #

Inside Double -Three combination patterns, Nifty moving in small wave’ b of 2nd pattern (Last pattern is On, Running Flat or a Triangle). Still, Wave ‘b moved 234.4% of wave’ a, It should not more than 261.8% of wave ‘a. After small wave’ b complete, small wave’ c will start downside. To conclude wave ‘c, its must have min 38.2% of wave’ a.

Quick Elliott Wave Views: Short term

Small Wave ‘b is still ON. After small wave’ b complete, small wave’ c will start downside. To conclude small wave ‘c, its must have min 38.2% of wave’ a.If we assume that 6223 is top of small wave’ b then wave’ c must be 38.2 %( @ 5985) of wave ‘a. It can drops to 61.8 %( @ 5840).

Quick Mechanical Outlooks: Nifty Cash 6120

Yesterday, heavy sell off pressure seen in the Nifty at higher level. Nifty touched 6199 and drops to 6107 marks. Nifty closed at 6120 with negative 66 points. Mechanically, Nifty, break the level 6145, so it triggered a –Ve signal. Now, Nifty will be positive above 6205 level and close above.

Global cue is in sideway nodes. Nifty will likely to open sideway. So, buyer, buy the Nifty only above 6205. Short seller, who shorted Nifty below 6145, can hold with initial SL 6205.

Resistance: 6165 / 6225 / 6260.

Support: 6075 / 6015 / 5975.

* * * Conclusion: As 30th Sept 2010 has gone, We concluded on dated 01/08/2010(@ 5400 Nifty) that IF Nifty not fall below 4675 within 30th Sept 2010, than it will cross above 6400 mark within 30th Jan 2011.

Till date, Nifty has becomes strong and reach above 6200 mark. So our major conclusion is going in right directions. Nifty will cross 6400 marks within 30th Jan 2011.

This conclusion is arrived from Elliott Wave Principle…….!!!!!

Declaimer: Author's recommendations are solely made with the purpose to educate the market Participants / Traders / Investors and enable to them to derive maximum benefits by acting them. While due care has been taken in preparing these comment , no responsibility will be assumed by the author for the consequences whatsoever , resulting out of acting on these recommendations.

Thursday, September 30, 2010

30th Sept 2010 Daily

Elliott Wave: Nifty Cash 5991 Forecasting

Large Pattern Unfold: # No change since last update #

Major corrective phase will form in Flat or Triangle patterns. Corrective major Wave 'b Upside is ON. Wave’ b is retraces upside to 92.6% of wave ‘a. Major wave’ a was in complex pattern and wave’ b also in complex patterns. Wave' b is likely in Zigzag pattern internally. To conclude, major wave’ b to complete, the minimum correction of major wave ‘c should be 38.2% of Wave’ a, from the top of wave’ b. Conclusion is that wave' c will be the failure one and will not retrace the entire wave' b.

Medium Pattern Unfold: # No change since last update #

Inside Zigzag pattern, Intermediate Wave' b seen Double -Three combination pattern.Intermediate wave’ b is ON. (Last pattern is On Running Flat or a Triangle).

Small Internal Patterns: # No change since last update #

Inside Double -Three combination patterns, Nifty moving in small wave’ b of 2nd pattern (Last pattern is On, Running Flat or a Triangle). Still, Wave ‘b moved 210.1% of wave’ a, It should not more than 261.8% of wave ‘a. After small wave’ b complete, small wave’ c will start downside. To conclude wave ‘c, its must have min 38.2% of wave’ a.

Quick Elliott Wave Views: Short term

Small Wave ‘b is still ON. After small wave’ b complete, small wave’ c will start downside. To conclude small wave ‘c, its must have min 38.2% of wave’ a.

Quick Mechanical Outlooks: Nifty Cash 5991

Yesterday, sell off pressure seen in the Nifty at higher level. Nifty touched 6071 and drops to 5979 marks. Nifty closed at 5991 with negative 38 points. Mechanically, Nifty, yet break the level 5985, so it triggered a –Ve signal. But, Nifty not closed below 5985 level. Now, Nifty will be positive above 6060 level and close above.

Global cue is in strong negative nodes. Nifty will likely to open lower. So, buyer, buy the Nifty only above 6060. Short seller, who shorted Nifty below 5985, can hold with initial SL 6060.

Resistance: 6040 / 6070 / 6145 / 6180.

Support: 5960 / 5910 / 5885.

* * * * * Mid term Conclusion: # 01/08/2010 # Perspective can change only below 4675 #

IF Nifty not fall below 4675 within 30th Sept 2010, than it will cross above 6400 mark within 30th Jan 2011.

This conclusion is arrived from Elliott Wave Principle…….!!!!!

Declaimer: Author's recommendations are solely made with the purpose to educate the market Participants / Traders / Investors and enable to them to derive maximum benefits by acting them. While due care has been taken in preparing these comment , no responsibility will be assumed by the author for the consequences whatsoever , resulting out of acting on these recommendations.

Wednesday, September 29, 2010

29th Sept 2010 Daily

Elliott Wave: Nifty Cash 6030 Forecasting

Large Pattern Unfold: # No change since last update #

Major corrective phase will form in Flat or Triangle patterns.
Corrective major Wave 'b Upside is ON. Wave’ b is retraces upside to 92.6% of wave ‘a. Major wave’ a was in complex pattern and wave’ b also in complex patterns. Wave' b is likely in Zigzag pattern internally. To conclude, major wave’ b to complete, the minimum correction of major wave ‘c should be 38.2% of Wave’ a, from the top of wave’ b. Conclusion is that wave' c will be the failure one and will not retrace the entire wave' b.

Medium Pattern Unfold: # No change since last update #

Inside Zigzag pattern, Intermediate Wave' b seen Double -Three combination pattern.Intermediate wave’ b is ON. (Last pattern is On Running Flat or a Triangle).

Small Internal Patterns: # No change since last update #

Inside Double -Three combination patterns, Nifty moving in small wave’ b of 2nd pattern (Last pattern is On, Running Flat or a Triangle). Still, Wave ‘b moved 210.1% of wave’ a, It should not more than 261.8% of wave ‘a. After small wave’ b complete, small wave’ c will start downside. To conclude wave ‘c, its must have min 38.2% of wave’ a.

Quick Elliott Wave Views: Short term

Small Wave ‘b is still ON. After small wave’ b complete, small wave’ c will start downside. To conclude small wave ‘c, its must have min 38.2% of wave’ a.

Quick Mechanical Outlooks: Nifty Cash 6030

Yesterday, both side volatiles seen in the Nifty. Nifty drops to 5991 marks and recovered close at 6030 with negative 6 points. Mechanically, Nifty, yet not break the level 5960, so still in a +ve bias. Now, Nifty will be negative below rising trigger 5985 level and close below.

Global cue is in strong positive nodes. Nifty will likely to open higher. So, buyer, hold Nifty with rising SL 5985. Short seller can short Nifty if it falls below 5985 level marks with initial SL high of the today.

Resistance: 6060 / 6095 / 6135 / 6180.

Support: 6015 / 5985 / 5925.

* * * * * Mid term Conclusion: # 01/08/2010 # Perspective can change only below 4675 #

IF Nifty not fall below 4675 within 30th Sept 2010, than it will cross above 6400 mark within 30th Jan 2011.

This conclusion is arrived from Elliott Wave Principle…….!!!!!

Declaimer: Author's recommendations are solely made with the purpose to educate the market Participants / Traders / Investors and enable to them to derive maximum benefits by acting them. While due care has been taken in preparing these comment , no responsibility will be assumed by the author for the consequences whatsoever , resulting out of acting on these recommendations.

Tuesday, September 28, 2010

28th Sept 2010 Daily

Elliott Wave: Nifty Cash 6036 Forecasting

Large Pattern Unfold:

Major corrective phase will form in Flat or Triangle patterns. Corrective major Wave 'b Upside is ON. Wave’ b is retraces upside to 92.6% of wave ‘a. Major wave’ a was in complex pattern and wave’ b also in complex patterns. Wave' b is likely in Zigzag pattern internally. To conclude, major wave’ b to complete, the minimum correction of major wave ‘c should be 38.2% of Wave’ a, from the top of wave’ b. Conclusion is that wave' c will be the failure one and will not retrace the entire wave' b.

Medium Pattern Unfold: # No change since last update #

Inside Zigzag pattern, Intermediate Wave' b seen Double -Three combination pattern.Intermediate wave’ b is ON. (Last pattern is On Running Flat or a Triangle).

Small Internal Patterns: # No change since last update #

Inside Double -Three combination patterns, Nifty moving in small wave’ b of 2nd pattern (Last pattern is On, Running Flat or a Triangle). Still, Wave ‘b moved 210.1% of wave’ a, It should not more than 261.8% of wave ‘a. After small wave’ b complete, small wave’ c will start downside. To conclude wave ‘c, its must have min 38.2% of wave’ a.

Quick Elliott Wave Views: Short term

Small Wave ‘b is still ON. After small wave’ b complete, small wave’ c will start downside. To conclude small wave ‘c, its must have min 38.2% of wave’ a.

Quick Mechanical Outlooks: Nifty Cash 6036

Yesterday, sell off pressure seen at higher level of Nifty. Nifty gained 6074 marks and close at 6036 with positive 17 points. Mechanically, Nifty is still in a +ve bias. Nifty will be negative if fall below 5960 level and close below.

Global cue is in sideway to positive nodes. Nifty will likely to open flattery. So, buyer, hold Nifty with same yesterday rising SL 5960. Yesterday low will be crucial one. If it breaks then first sigh of weakness and secondly it should break 5960 and close below. Short seller can short Nifty if it falls below 5960 level marks with initial SL high of the today.

Resistance: 6065 / 6095 / 6135.

Support: 6005 / 5970 / 5905.

* * * * * Mid term Conclusion: # 01/08/2010 # Perspective can change only below 4675 #

IF Nifty not fall below 4675 within 30th Sept 2010, than it will cross above 6400 mark within 30th Jan 2011.

This conclusion is arrived from Elliott Wave Principle…….!!!!!

Declaimer: Author's recommendations are solely made with the purpose to educate the market Participants / Traders / Investors and enable to them to derive maximum benefits by acting them. While due care has been taken in preparing these comment , no responsibility will be assumed by the author for the consequences whatsoever , resulting out of acting on these recommendations.

Monday, September 27, 2010

27th Sept 2010 Daily

Elliott Wave: Nifty Cash 6018 Forecasting

Large Pattern Unfold: # No change since last update #

Major corrective phase will form in Flat or Triangle patterns. Corrective major Wave 'b Upside is ON. Wave’ b is retraces upside to 91.7% of wave ‘a. Major wave’ a was in complex pattern and wave’ b also in complex patterns. Wave' b is likely in Zigzag pattern internally. To conclude, major wave’ b to complete, the minimum correction of major wave ‘c should be 38.2% of Wave’ a, from the top of wave’ b. Conclusion is that wave' c will be the failure one and will not retrace the entire wave' b.

Medium Pattern Unfold: # No change since last update #

Inside Zigzag pattern, Intermediate Wave' b seen Double -Three combination pattern.Intermediate wave’ b is ON. (Last pattern is On Running Flat or a Triangle).

Small Internal Patterns: # No change since last update #

Inside Double -Three combination patterns, Nifty moving in small wave’ b of 2nd pattern (Last pattern is On, Running Flat or a Triangle). Still, Wave ‘b moved 204.1% of wave’ a, It should not more than 261.8% of wave ‘a. After small wave’ b complete, small wave’ c will start downside. To conclude wave ‘c, its must have min 38.2% of wave’ a.

Quick Elliott Wave Views: Short term

Small Wave ‘b is still ON. After small wave’ b complete, small wave’ c will start downside. To conclude small wave ‘c, its must have min 38.2% of wave’ a.

Quick Mechanical Outlooks: Nifty Cash 6018

Last Friday, strong buying was in Nifty. Nifty gained 6029 marks and close at 6018 with positive 59 points. Mechanically, Nifty is still in a +ve bias. Nifty will be negative if fall below 5960 level and close below.

Global cue is in strong positive nodes. Nifty will likely to open higher. So, buyer, hold Nifty with rising SL 5960. Major Indicators are in overbought zone. So be careful while trading and trades with lesser quantities. Short seller can short Nifty if it falls below 5960 level marks with initial SL high of the today.

Resistance: 6055/ 6085 / 6105 / 6135 / 6160.

Support: 5980 / 5930 / 5875.

* * * * * Mid term Conclusion: # 01/08/2010 # Perspective can change only below 4675 #

IF Nifty not fall below 4675 within 30th Sept 2010, than it will cross above 6400 mark within 30th Jan 2011.

This conclusion is arrived from Elliott Wave Principle…….!!!!!

Declaimer: Author's recommendations are solely made with the purpose to educate the market Participants / Traders / Investors and enable to them to derive maximum benefits by acting them. While due care has been taken in preparing these comment , no responsibility will be assumed by the author for the consequences whatsoever , resulting out of acting on these recommendations.

Friday, September 24, 2010

24th Sept 2010 Daily

Elliott Wave: Nifty Cash 5959 Forecasting

Large Pattern Unfold: # No change since last update #

Major corrective phase will form in Flat or Triangle patterns. Corrective major Wave 'b Upside is ON. Wave’ b is retraces upside to 91.7% of wave ‘a. Major wave’ a was in complex pattern and wave’ b also in complex patterns. Wave' b is likely in Zigzag pattern internally. To conclude, major wave’ b to complete, the minimum correction of major wave ‘c should be 38.2% of Wave’ a, from the top of wave’ b. Conclusion is that wave' c will be the failure one and will not retrace the entire wave' b.

Medium Pattern Unfold: # No change since last update #

Inside Zigzag pattern, Intermediate Wave' b seen Double -Three combination pattern.Intermediate wave’ b is ON. (Last pattern is On Running Flat or a Triangle).

Small Internal Patterns: # No change since last update #

Inside Double -Three combination patterns, Nifty moving in small wave’ b of 2nd pattern (Last pattern is On, Running Flat or a Triangle). Still, Wave ‘b moved 204.1% of wave’ a, It should not more than 261.8% of wave ‘a. After small wave’ b complete, small wave’ c will start downside. To conclude wave ‘c, its must have min 38.2% of wave’ a.

Quick Elliott Wave Views: Short term

Small Wave ‘b is still ON. After small wave’ b complete, small wave’ c will start downside To conclude small wave ‘c, its must have min 38.2% of wave’ a. If we assume the top of wave ‘b is 6037 then wave ‘c must have @ 5805(38.2%) of wave ‘a, can be drops to 5660(61.8%)-5545(81%).

Quick Mechanical Outlooks: Nifty Cash 5959

Yesterday, sell off pressure increased in the market, Nifty dropped 5932 marks and close at 5959 with negative 31 points. Mechanically, Nifty is still in a +ve bias. Nifty will be negative if fall below 5920 level and close below.

Global cue is down. Nifty will likely to open down to sideway. Yesterday, 5946 level was broken, but not broken 5920 trigger point. So, buyer, hold Nifty with rising SL 5920. Short seller can short Nifty if it falls below 5920 level marks with initial SL high of the today.

Resistance: 5990 / 6030 / 6075.

Support: 5920 / 5890 / 5845 / 5770.

* * * * * Mid term Conclusion: # 01/08/2010 # Perspective can change only below 4675 #

IF Nifty not fall below 4675 within 30th Sept 2010, than it will cross above 6400 mark within 30th Jan 2011.

This conclusion is arrived from Elliott Wave Principle…….!!!!!

Declaimer: Author's recommendations are solely made with the purpose to educate the market Participants / Traders / Investors and enable to them to derive maximum benefits by acting them. While due care has been taken in preparing these comment , no responsibility will be assumed by the author for the consequences whatsoever , resulting out of acting on these recommendations.

Thursday, September 23, 2010

23rd Sept 2010 Daily

Elliott Wave: Nifty Cash 5991 Forecasting

Large Pattern Unfold:

Major corrective phase will form in Flat or Triangle patterns. Corrective major Wave 'b Upside is ON. Wave’ b is retraces upside to 91.7% of wave ‘a. Major wave’ a was in complex pattern and wave’ b also in complex patterns. Wave' b is likely in Zigzag pattern internally. To conclude, major wave’ b to complete, the minimum correction of major wave ‘c should be 38.2% of Wave’ a, from the top of wave’ b. Conclusion is that wave' c will be the failure one and will not retrace the entire wave' b.

Medium Pattern Unfold: # No change since last update #

Inside Zigzag pattern, Intermediate Wave' b seen Double -Three combination pattern.Intermediate wave’ b is about to end (Last pattern is On Running Flat or a Triangle).

Small Internal Patterns:

Inside Double -Three combination patterns, Nifty moving in small wave’ b of 2nd pattern (Last pattern is On, Running Flat or a Triangle). Still, Wave ‘b moved 204.1% of wave’ a, It should not more than 261.8% of wave ‘a. After small wave’ b complete, small wave’ c will start downside. To conclude wave ‘c, its must have min 38.2% of wave’ a.

Quick Elliott Wave Views: Short term # No change since last update #

Small Wave ‘b is still ON. After small wave’ b complete, small wave’ c will start downside To conclude small wave ‘c, its must have min 38.2% of wave’ a.

Quick Mechanical Outlooks: Nifty Cash 5991

Yesterday, sell off pressure seen in the market, Nifty has touched 6037 marks upside and close at 5991 with negative 18 points. Mechanically, Nifty is still in a +ve bias. Nifty will be negative if fall below 5920 level and close below.

Global cue is in sideway to up. So Nifty likely to open sideway. Yesterday’s low 5946 will be crucial for long side. If it breaks then first sign of reversal and secondly it should break 5920 trigger point and close below. So, buyer, hold Nifty with rising SL5920. Short seller can short Nifty if it falls below 5920 level marks with initial SL high of the today.

Resistance: 6035 / 6090 / 6125.

Support: 5945 / 5920 / 5845 / 5770.

* * * * * Mid term Conclusion: # 01/08/2010 # Perspective can change only below 4675 #

IF Nifty not fall below 4675 within 30th Sept 2010, than it will cross above 6400 mark within 30th Jan 2011.

This conclusion is arrived from Elliott Wave Principle…….!!!!!

Declaimer: Author's recommendations are solely made with the purpose to educate the market Participants / Traders / Investors and enable to them to derive maximum benefits by acting them. While due care has been taken in preparing these comment , no responsibility will be assumed by the author for the consequences whatsoever , resulting out of acting on these recommendations.

Wednesday, September 22, 2010

22nd Sept 2010 Daily

Elliott Wave: Nifty Cash 6009 Forecasting

Large Pattern Unfold:

Major corrective phase will form in Flat or Triangle patterns. Corrective major Wave 'b Upside is ON. Wave’ b is retraces upside to 91.4% of wave ‘a. Major wave’ a was in complex pattern and wave’ b also in complex patterns. Wave' b is likely in Zigzag pattern internally. To conclude, major wave’ b to complete, the minimum correction of major wave ‘c should be 38.2% of Wave’ a, from the top of wave’ b. Conclusion is that wave' c will be the failure one and will not retrace the entire wave' b.

Medium Pattern Unfold: # No change since last update #

Inside Zigzag pattern, Intermediate Wave' b seen Double -Three combination pattern.Intermediate wave’ b is about to end (Last pattern is On Running Flat or a Triangle).

Small Internal Patterns:

Inside Double -Three combination patterns, Nifty moving in small wave’ b of 2nd pattern (Last pattern is On, Running Flat or a Triangle). Still, Wave ‘b moved 203.2% of wave’ a, It should not more than 261.8% of wave ‘a. After small wave’ b complete, small wave’ c will start downside. To conclude wave ‘c, its must have min 38.2% of wave’ a.

Quick Elliott Wave Views: Short term # No change since last update #

Small Wave ‘b is still ON. After small wave’ b complete, small wave’ c will start downside To conclude small wave ‘c, its must have min 38.2% of wave’ a.

Quick Mechanical Outlooks: Nifty Cash 6009

Yesterday, Nifty has crossed 6000 marks upside and gained 29 points. Mechanically, Nifty is still in a +ve bias. Nifty will be negative if fall below 5920 level and close below.

Global cue is in positive, so Nifty likely to open higher. Buyer, hold Nifty with rising SL5920. Short seller can short Nifty if it falls below 5920 level marks with initial SL high of the today.

Resistance: 6045 / 6070 / 6115.

Support: 6000 / 5955 / 5920.

* * * * * Mid term Conclusion: # 01/08/2010 # Perspective can change only below 4675 #

IF Nifty not fall below 4675 within 30th Sept 2010, than it will cross above 6400 mark within 30th Jan 2011.

This conclusion is arrived from Elliott Wave Principle…….!!!!!

Tuesday, September 21, 2010

21st Sept 2010 Daily

Elliott Wave: Nifty Cash 5980 Forecasting

Large Pattern Unfold:

Major corrective phase will form in Flat or Triangle patterns. Corrective major Wave 'b Upside is ON. Wave’ b is retraces upside to 90.4% of wave ‘a. Major wave’ a was in complex pattern and wave’ b also in complex patterns. Wave' b is likely in Zigzag pattern internally. To conclude, major wave’ b to complete, the minimum correction of major wave ‘c should be 38.2% of Wave’ a, from the top of wave’ b. Conclusion is that wave' c will be the failure one and will not retrace the entire wave' b.

Medium Pattern Unfold: # No change since last update #

Inside Zigzag pattern, Intermediate Wave' b seen Double -Three combination pattern.Intermediate wave’ b is about to end (Last pattern is On Running Flat or a Triangle).

Small Internal Patterns:

Inside Double -Three combination patterns, Nifty moving in small wave’ b of 2nd pattern (Last pattern is On, Running Flat or a Triangle). Still, Wave ‘b moved 196.4% of wave’ a, It should not more than 261.8% of wave ‘a. After small wave’ b complete, small wave’ c will start downside. To conclude wave ‘c, its must have min 38.2% of wave’ a.

Quick Elliott Wave Views: Short term

Small Wave ‘b is still ON. After small wave’ b complete, small wave’ c will start downside To conclude small wave ‘c, its must have min 38.2% of wave’ a.

Quick Mechanical Outlooks: Nifty Cash 5980

Yesterday, Nifty has strongly moved upside and gained 96 points. Mechanically, Nifty is still in a +ve bias. Nifty will be negative if fall below 5895 level and close below.

Global cue is in sideway to up, so Nifty likely to open higher. Buyer, hold Nifty with rising SL 5895. Short seller can short Nifty if it falls below 5895 level marks with initial SL high of the today.

Resistance: 6030 / 6065 / 6135.

Support: 5930 / 5885 / 5865.

* * * * * Mid term Conclusion: # 01/08/2010 # Perspective can change only below 4675 #

IF Nifty not fall below 4675 within 30th Sept 2010, than it will cross above 6400 mark within 30th Jan 2011.

This conclusion is arrived from Elliott Wave Principle…….!!!!!

Monday, September 20, 2010

20Th Sept 2010 Daily

Elliott Wave: Nifty Cash 5885 Forecasting

Large Pattern Unfold: # No change since last update #

Major corrective phase will form in Flat or Triangle patterns. Corrective major Wave 'b Upside is ON. Wave’ b is retraces upside to 88.02% of wave ‘a. Major wave’ a was in complex pattern and wave’ b also in complex patterns. Wave' b is likely in Zigzag pattern internally. To conclude, major wave’ b to complete, the minimum correction of major wave ‘c should be 38.2% of Wave’ a, from the top of wave’ b. Conclusion is that wave' c will be the failure one and will not retrace the entire wave' b.

Medium Pattern Unfold: # No change since last update #

Inside Zigzag pattern, Intermediate Wave' b seen Double -Three combination pattern.Intermediate wave’ b is about to end (Last pattern is On Running Flat or a Triangle).

Small Internal Patterns: # No change since last update #

Inside Double -Three combination patterns, Nifty moving in small wave’ b of 2nd pattern (Last pattern is On, Running Flat or a Triangle). Still, Wave ‘b moved 182.1% of wave’ a. After small wave’ b complete, small wave’ c will start downside. To conclude wave ‘c, its must have min 38.2% of wave’ a.

Quick Elliott Wave Views: Short term # No change since last update #

Small Wave ‘b is still ON. After small wave’ b complete, small wave’ c will start downside To conclude small wave ‘c, its must have min 38.2% of wave’ a. If we assume the top of small wave’ b at 5902, then wave ‘c should be at 5675 min and can be down to 5530 and 5290.

Quick Mechanical Outlooks: Nifty Cash 5885

Last Friday, Nifty has gained 56 points and moved up side to 5898 and closed at 5885 levels. Mechanically, Nifty is still in a +ve bias. Nifty will be negative if fall below 5810 level and close below.

Global cue is in sideway, so Nifty likely to open sideway. Buyer, hold Nifty with SL 5810. Short seller can short Nifty if it falls below 5810 level marks with initial SL high of the today.

Resistance: 5920 / 5965 / 5980.

Support: 5865 / 5820 / 5780.

* * * * * Mid term Conclusion: # 01/08/2010 # Perspective can change only below 4675 #

IF Nifty not fall below 4675 within 30th Sept 2010, than it will cross above 6400 mark within 30th Jan 2011.

This conclusion is arrived from Elliott Wave Principle…….!!!!!